Retirement represents a pivotal milestone in a CRNA’s life, and it ushers in a new phase that could extend 20 to 30 years or more. How do you best prepare yourself for that transition after work? We spoke with John Diehl, CFP®, CLU®, ChFC® of Hartford Funds to discuss the MIT Age Lab’s 8000 Days concept, the four stages of retirement and the impact of longevity on financial planning and quality of life.
John Diehl, CFP®, CLU®, ChFC® is the Senior Vice President of Applied Insights with Hartford Funds. His focus over the past two years has been on longevity and the quality of life as lifespans continue to expand. He’s been working with a group of researchers at the MIT Age Lab and sharing that information with clients.
The ‘8000 Days’ concept, developed by the MIT Age Lab, segments life into distinct phases, each lasting approximately 8000 days or 22 years. These segments encompass the entire journey from birth to retirement and beyond. During the final 8000 days, the focus turns to retirement and the four phases you’ll go through: honeymoon, the big decision, navigating longevity, and living solo.
We believe that each of these phases is accompanied by critical decisions and requires proactive planning in order to succeed. Conversations regarding retirement goals, living arrangements, and financial planning should commence at least ten years prior to retirement. This proactive approach can facilitate a smooth transition and contribute to a more fulfilling retirement.
The 8000 Days concept offers a valuable framework for comprehending the various phases of life and retirement, and Diehl’s breakdown provides great insights into the steps CRNAs can to take to enjoy a long retirement, including social, financial, and physical considerations.
With decades of experience working exclusively with CRNAs, CRNA Financial Planning® has the knowledge to help you save more of your hard-earned money and plan for life after anesthesia. Schedule an introductory phone call to discuss your current situation and needs. You can also call our office at 855.304.3748 or email us at inquiry@crnafinancialplanning.com.
The opinions voiced in this material are for general information only and are not intended to provide specific financial or tax advice or recommendations for any individual.
Investment Advice offered through Private Advisor Group LLC, a Registered Investment Advisor